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Builders Create Actual Property have submitted a planning software to Southwark Council for change of use of the workplace constructing at 291-299 Borough Excessive Road.
In a letter enclosed with the planning software, Richard Dawes of consultants Savills wrote: "The basics of the proposed lodge are that it will provide a contemporary, boutique / way of life lodge positioned inside minutes stroll of Borough underground station.
"Given the constraints at floor flooring and the wealth of native leisure and restaurant provision, the proposed lodge is right for a restricted meals & beverage provision, and demand from extra lodge bed room targeted operators is powerful, each domestically and worldwide.
"Operators from a spread of home and worldwide lodge teams are actively looking for this sort of lodge and there are quite a few, thrilling ideas that might add to the present, restricted lodge provision within the rapid space, catering for each leisure and company travellers."
The developer claims that the constructing is tough to let in its present type as the situation is unattractive to potential workplace tenants.
A report from BBG actual property advisors included with the planning software says: "Rental values typically decline as you head south down Borough Excessive Road and it is rather tough to get industrial tenants to contemplate buildings south of the junction of Borough Excessive Road and Nice Dover Road / Marshalsea Street.
"The result’s vital incentives by way of lowered hire and elevated hire free which makes the economics of creating new workplace buildings unviable. Consequently, there are not any new workplace developments within the neighborhood."
On the bottom flooring of the constructing, the unit beforehand occupied by betting store William Hill has been empty for a number of years.
Till final month one of many retail items was occupied by printing and copying agency Copyprints Ltd. The closure of Copyprints marked the top of a 65-year historical past because the store was based by Jack Hames in 1959.
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Source : https://www.se1.news/291-299-borough-high-street-hotel-plan/
